22nd February 2018 Market Outlook

Aussie Kiwi – AUD/NZD continue to decline lower after price breakout below its consolidation as we expected in our 12th February 2018 Market Outlook. Traders who went short as we recommended may consider continue holding onto the short position with a trailing stop behind as price is likely going to continue its decline into its next support level at 1.0600.

AUDNZDrDaily

 

Japanese Yen – USD/JPY pullback into its 108.20–107.50 resistance area as we expected in our 20th February 2018 Market Outlook. Given that the trend is still bearish, traders may consider shorting this market to jump on the bearish trend and have the stop loss set a few ATR above the 108.20–107.50 resistance area to limit the losses if price moves against us.

USDJPYrDaily

 

Pound Yen – GBP/JPY rejected its 150.50 resistance level yesterday which could potentially lead price lower in the coming days. Since the overall trend is still bearish, traders may consider shorting this market to jump on the bearish trend. There’s no immediate support level below which offer traders huge profit margin to short this market.

GBPJPYrDaily